Trichet says ECB in strong vigilence

Friday, July 01, 2011 - 01:59

June 30 - ECB President Jean-Claude Trichet says the bank is on permanent alert, dismissing any speculation that it may delay interest rate rises because of Greek crisis. Rough Cut (no reporter narration).

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SOUNDBITE) (English) EUROPEAN CENTRAL BANK PRESIDENT JEAN-CLAUDE TRICHET SAYING:
"We are strongly determined to secure inflation expectations firmly inline with our aim to keeping inflation rates below but close to two percent over the medium term."
SOUNDBITE) (English) EUROPEAN CENTRAL BANK PRESIDENT JEAN-CLAUDE TRICHET SAYING:
"We see the monetary stance still as accommodative and risks to price stability on the upside. Accordingly I said we are in a state of strong vigilance. That we stand ready to act in a firm and timely manner to avoid that recent price developments give rise to broad base inflationary pressures over the medium term."
(SOUNDBITE) (English) EUROPEAN CENTRAL BANK PRESIDENT JEAN-CLAUDE TRICHET SAYING:
"We are discussing with great 'allegresse', if I may, with great ease of, something which is only the first default of an advanced economy since World War Two. So we are again in my opinion called to be very highly highly responsible. And as far as we are concerned we are permanently alert. We have even a concept of permanent alertness."
(SOUNDBITE) (English) EUROPEAN CENTRAL BANK PRESIDENT JEAN-CLAUDE TRICHET SAYING:
"What we hope very much is that the full body of Greece, the private the public sector and all sensitivity in Greece would understand that if they would themselves play the game, the winning game, it would change totally the picture. And as regards to the present situation if you look at those countries who had a drama you will look whether the foreign direct investment are much more forthcoming after than they were before all avoiding the drama."

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